Stowe, Vermont — The rise of short-term rentals has definitely impacted ski towns. As housing has become more expensive and harder to find, Airbnbs and VRBOs have been growing in these communities. Some ski towns have responded with regulations and caps. Now, one of the most expensive towns to live in Vermont is putting a limit on them.
The Stowe Reporter revealed last week that Stowe is implementing a cap on short-term rentals. However, this process is expected to be slow, with second-home owners having workarounds.
It’s estimated that Stowe currently has about 1,450 short-term rentals. However, 600 of these are either commercial lodging units or aren’t being actively used. This is why they chose a cap of 850 short-term rentals. The goal is to eventually block non-residents from converting their home into a short-term rental.
“We are very pleased to close the door on this chapter of the short-term rental ordinance journey and thank every person who participated along with (it),” said Beth Gadbois, a member of Stowe’s selectboard.
Non-Stowe residents will have until September 15th to register their property for a short-term rental. After that, they’ll be able to renew annually. If they don’t register by that date, they’ll be subject to a lottery process.
Some of the most noteworthy new rules include:
- Non-residents will ultimately be blocked from obtaining short-term rentals, but this rule is expected to take years.
- Stowe residents can’t have more than two short-term rentals.
- When there are property sales, the short-term rental unit won’t come with it, unless the exchange is between families.
- The registration fee for a short-term rental is $100.
Why This Is A Compromise
Ultimately, the short-term rental industry made the process long and complicated. Because of the back-and-forth between the two sides, there will be various ways for current short-term rental sellers to maintain their status.
For one, it’s going to be years before some of these measures are fully implemented. Also, there’s the reality that the town officials believe there will be many more operating than the cap goal in the years ahead. There will also be districts that have limits on short-term rental regulations, such as at Spruce Peak.
Unsurprisingly, some people still complained about the compromise. Alisa Loiselle is a second homeowner at Mountainside Resort. When she’s not there, she uses it as a short-term rental. As part of the ordinance, owners at properties like Mountainside and Village Green will need to state their case to the Town.
“It’s exactly the way Mountainside and Village Green are designed — I mean to a T,” said Loiselle. “We were zoned that way. We were approved by the state that way, and we were approved by the town that way. Now it’s kind of being ripped away.”
You can read through the ordinance here.
I think that this is a much-needed change for Stowe. However, are these changes too late to solve their housing crisis?
Image/Video Credits: Jeffrey Clayton, PeakRankings, Stowe Mountain Resort
